Telenav Accelerates Its Connected-Car Media Strategy Through Strategic Transaction With Location-Based Marketing Leader InMarket

SANTA CLARA, Calif.--(BUSINESS WIRE)--Telenav®, Inc. (NASDAQ: TNAV), a leading provider of connected-car and location-based services, announced plans to accelerate its strategy to enable connected vehicles with location-based media and commerce through the transfer of assets associated with its Thinknear location-based digital advertising operations to inMarket Media, LLC, a leader in digital advertising for the physical world, in exchange for a minority equity interest in inMarket. The transaction is subject to customary closing conditions and is expected to be completed during Telenav’s fiscal quarter ending September 30, 2019.